According to Hyperliquid block explorer Hypurrscan, the whale’s BTC position is valued at $496 million with 10x leverage. The trade was opened at $111,831 per Bitcoin, with a liquidation price of $124,270. The position initially started at $163 million and was later increased by more than double.

High-Risk Moves in Bitcoin and Ether

Last week, the whale executed a total of $900 million in short positions on BTC and Ether. This aggressive move sparked significant speculation among crypto investors. Additionally, the whale first drew attention two months ago with $11 billion worth of BTC.

Interestingly, the whale opened its position just before U.S. President Donald Trump announced new tariffs. This timing fueled community speculation that the short trade may have been based on insider information.

Speculations About the Whale’s Identity

The owner of the wallet has not been officially verified. However, blockchain researchers suggested a possible link to Garrett Jin, former CEO of the now-defunct crypto exchange BitForex. Crypto analyst Eye claimed that Binance CEO shared the topic on X because of Jin, though other researchers believe it might involve someone close to him.

Jin addressed the rumors, stating:

• “@cz_binance, thank you for sharing my personal information. But I need to clarify that I have no connection with the Trump family. This is not insider trading.”

• “I have no connection with the Trump family or Donald Trump Jr.; this is not insider information trading.”

• “The funds are not mine but belong to my clients. We manage the nodes and provide internal insights for them.”

While these statements partially calm the speculation, volatility in the crypto market continues.

Summary of the Whale’s Position

• Trade Type: Bitcoin short

• Leverage: 10x

• Initial Amount: $163 million → later increased to $496 million

• Liquidation Price: $124,270 per BTC

• Market Impact: Short-term volatility on Bitcoin, Ether, and other crypto assets

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Hyperliquid Whale Doubles Bitcoin Short, Denies Insider Info appeared first on Coin Engineer.

A major development has shaken the crypto investment world. Well-known on-chain investigator ZachXBT has claimed that the so-called “Hyperliquid whale,” who trades with 50x leverage on the Hyperliquid exchange, is in fact a cybercriminal gambling with stolen funds.

This whale managed to survive liquidation attempts by crypto investors and secured an impressive $9 million in net profit. ZachXBT emphasized that this whale has no connection to the North Korea-backed Lazarus Group. Earlier this year, in February 2025, ZachXBT had linked the $1.5 billion Bybit hack to that hacker collective. Now, he has followed the trail to this Hyperliquid whale.

“Crypto Twitter Is Speculating, But the Truth Is More Sinister”

ZachXBT made the following statement on X (Twitter):

“It’s funny watching CT speculate on the ‘Hyperliquid whale’ when in reality it’s just a cybercriminal gambling with stolen funds.”

Responding to a follower’s question regarding potential ties to the Lazarus Group, ZachXBT replied:

“No, there’s no connection to Lazarus.”

Some users asked ZachXBT to reveal the whale’s identity. However, he responded by saying:

“We’ll see, it’s just not enjoyable posting investigations on X/Twitter anymore.”

Failed Attempts to Liquidate the Whale

For weeks, the crypto market has speculated about who the Hyperliquid whale is and how they could be stopped. The whale had opened 40x and 50x short positions on Bitcoin (BTC) and Ethereum (ETH), drawing massive attention.

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The whale notably opened a $450 million short position on BTC, which triggered a major reaction across the market. Traders attempted to counter this by aggressively buying up BTC, trying to force a liquidation. However, they ultimately failed. According to Lookonchain, the whale deposited an additional $5 million USDC to increase margin and avoid liquidation.

Aside from BTC and ETH, the whale also opened a $31 million short position on Chainlink (LINK) with 10x leverage and placed short orders on GMX.

A Major Threat in the Crypto Market: Stolen Funds and High-Leverage Trades

ZachXBT’s comments have reignited concerns about stolen funds re-entering circulation through decentralized finance (DeFi) protocols. The situation also highlights how cybercriminals exploit high-leverage trading to gamble with illicit funds, posing a significant risk to the overall market.

While the true identity of this whale remains undisclosed, the broader question for the crypto ecosystem is how to address these high-risk scenarios and prevent bad actors from destabilizing the markets.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Big Bet from ZachXBT on Whale in Hyperliquid! appeared first on Coin Engineer.

The Bitcoin price attempted to break above the $60,000 level on Sunday, but was met with a strong rejection from that level, leading to a sudden surge in Bitcoin short positions. Currently, the BTC price is trading at $58,515, down 1.7%, with a market cap of $1.115 trillion.

Bitcoin Short Positions on the Rise

As soon as the Bitcoin price hit $60,000, Bitcoin short positions became aggressive across many exchanges, with 24-hour short volumes increasing by 118% to over $18.30 billion. HODL15Capital noted that there was a huge imbalance between different crypto exchanges, including Deribit, Bitmex, Bitfinex, Kraken, and HTX.

Additionally, the Twitter account suggested that 50x and 100x leveraged positions on the Binance crypto exchange could soon be liquidated, indicating a possible market shift.

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The wide-ranging liquidation data shows that over $77 million was liquidated across the entire crypto market in the past 24 hours. $50 million of these were long position liquidations and $26 million were short position liquidations. Ethereum contributed the most liquidations with $19.5 million.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Bitcoin Short Positions Rising appeared first on Coin Engineer.